Trump says he told TSMC it would pay up to 100% tax if it doesn’t build factories in US
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The US President criticised the Biden administration for providing a US$6.6 billion grant to TSMC’s US unit.
PHOTO: REUTERS
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US President Donald Trump on April 8 said he told Taiwan Semiconductor Manufacturing Company (TSMC), which has pledged to build factories in America, it would pay a tax of up to 100 per cent if it did not set up plants in the country.
Speaking at a Republican National Congressional Committee event, he criticised the Biden administration for providing a US$6.6 billion (S$8.9 billion) grant
“TSMC, I gave them no money... all I did was say, if you don’t build your plant here, you’re going to pay a big tax,” he added.
In March, TSMC, the world’s biggest contract chipmaker, said at the White House that it plans to make a fresh US$100 billion investment in the US that includes building five additional chip facilities in coming years.
Earlier on April 8, Reuters reported the chipmaker could face a penalty of US$1 billion or more to settle a US export control investigation over a chip it made that ended up inside an artificial intelligence processor from Chinese firm Huawei. REUTERS
